Singapore-based food technology start-up TurtleTree Labs raised $6.2 million in a new funding round from new and existing global venture capital investors, including Prince Khaled bin Alwaleed bin Talal's KBW Ventures.
The pre-A funding round, or seed funding phase, is the first official equity funding stage of a company, was oversubscribed, according to a statement on Thursday. KBW Ventures first invested in TurtleTree Labs in a pre-seed round in January, then a seed round in June and has now committed additional capital to the latest round.
The start-up, which is also backed by the Singapore government, is the world’s first cell-based biotechnology company to create real milk from mammalian cells, without the need for animals.
The cell-based meat market is projected to reach $140 billion in the next decade, according to forecasts compiled by Blue Horizon, which invests in alternative proteins.
“The vision of TurtleTree Labs is to create a truly sustainable and cruelty-free food system,” said Max Rye, co-founder and chief strategist of TurtleTree Labs. “We are grateful to have the support of leading investors from every corner of the world.”
It won the Entrepreneurship World Cup 2020, the world’s biggest start-up pitch competition in Saudi Arabia, and secured a cash prize of $500,000 in October. The EWC received entries from more than 175,000 start-ups from nearly 200 countries.
The company also announced that Prince Khaled will join TurtleTree Labs as an adviser. Other venture capital investors who participated in the pre-A funding round include Green Monday Ventures, Eat Beyond Global and Verso Capital.
TurtleTree Labs raised $3.2m in seed funding from global investors in June. Green Monday Ventures, CPT Capital, Artesian and New Luna Ventures participated in the seed funding round.
TurtleTree Labs raised initial investment, which was led by New York and Hong Kong-based Lever VC, in 2019. Over the past year, the start-up has grown its team to more than 20 full-time scientists and engineers.
The additional capital injected in TurtleTree labs is in line with KBW Ventures’ strategy to invest in companies with transformative technologies and business models with potential for significant financial returns, while also delivering positive social impact. KBW Ventures’ portfolio spans early stage businesses to more established companies looking to expand into the Middle East.
In his role as adviser, Prince Khaled will shape new market growth plans, lend his expertise in the alternative protein and food tech sectors, and liaise with the founding team on other areas of the business, according to the statement.
“TurtleTree Labs’ groundbreaking technology, which allowed our company to win The Liveability Challenge and Entrepreneurship World Cup, has certainly attracted interest from a global and diverse panel of investors and customers,” said Fengru Lin, chief executive and co-founder of TurtleTree Labs.
The start-up, which has offices in San Francisco and Singapore, will use the funds to “accelerate research and production of functional, bioactive proteins and complex sugars found in human milk”.
The $6.2m investment will provide the start-up “with an opportunity to scale in a rapidly changing industry while addressing an extensive global need”, Ana Maria Torres, director at EWC, said.
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Neighbourhood Watch
COMPANY%20PROFILE
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The specs
Engine: 4.0-litre, twin-turbocharged V8
Transmission: nine-speed automatic
Power: 630bhp
Torque: 900Nm
Price: Dh810,000
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Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Racecard
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
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Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
COMPANY PROFILE
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Read part two: how climate change drove the race for an alternative
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
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Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
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WHAT IS A BLACK HOLE?
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4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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'The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting up a Generation for Failure'
Greg Lukianoff and Jonathan Haidt, Penguin Randomhouse
